Nifty closed at 52 Week High at 5691. It climbed past 61.8% retracement (5654) convincingly. Next immediate target to cross will be July'11 High of 5740 and then 5950 area i.e Apr'11 high & 78.6% level.
September 22, 2012
September 21, 2012
Nifty bounces from the trendline today
September 17, 2012
Fibo Targets (Calculations)/Elliot wave
Current upmove has started from 4th June's Low of 4770.
Wave 1. 4770 to 5348 = 578 points
Wave 2. 5348 to 5032 = -316 points (Retraces just above 50% of 1)
Wave 3. 5032 to 5448 = 416 points
Wave 4. 5448 to 5215 = -233 points (Retraces just above 50% of 3)
Wave 5. Wave 1 to 3 = 678 points
Wave 3 cannot be shortest. If wave 5 is minimum of Wave 3, then target will be,
5215 + 416 = 5631 achieved today.
ELSE, if nifty goes above this level, the moves has to be relebelled. Then Wave 3 continues.
Then current position will be wave iii of 3 (an extended one, most likely). Then likely targets for iii of 3 will be
Wave i X 1.618 i.e 416 X 1.618 = 673 points from 5215 i.e. 5888 and more.
Wave 1. 4770 to 5348 = 578 points
Wave 2. 5348 to 5032 = -316 points (Retraces just above 50% of 1)
Wave 3. 5032 to 5448 = 416 points
Wave 4. 5448 to 5215 = -233 points (Retraces just above 50% of 3)
Wave 5. Wave 1 to 3 = 678 points
Wave 3 cannot be shortest. If wave 5 is minimum of Wave 3, then target will be,
5215 + 416 = 5631 achieved today.
ELSE, if nifty goes above this level, the moves has to be relebelled. Then Wave 3 continues.
Then current position will be wave iii of 3 (an extended one, most likely). Then likely targets for iii of 3 will be
Wave i X 1.618 i.e 416 X 1.618 = 673 points from 5215 i.e. 5888 and more.
September 13, 2012
NIFTY SAR AT 5348
NIFTY SAR is at 5348. Bank NIFTY SAR is at 10100. Last time Bank was around 10500-600, with Nifty at this level. This shows the weakness in banks.
Subscribe to:
Posts (Atom)